A HNW individual needs funding for two very different investments

high net worth individual needs funding

Loan Amount:
£9,625,000

Property Value:
£13,785,000

LTV:
65%

A broker representing a client with vast amounts of property experience reached out to us to help with a complicated case. The client wanted to expand his portfolio, consisting of multiple properties throughout central London with the help of a bridging loan.

The new investment consisted of two new properties, each having separate setups and end goals. Both properties were in prime North London locations, with one being vacant commercial offices and the other a residential buy-to-let opportunity.

Given the two different types of property, attention to detail was paramount to ensure everything ran smoothly. We were also facing pressure from tight deadlines and changing building work plans.

Overcoming refurbishment problems to stick to tight deadlines

Our underwriter, Jemima Hayes, got to work. The commercial property being invested into was a large five storey freehold building laying empty but with plenty of promise. The borrower was in talks to lease out the site over the long term to a reputable business.

This was all subject to refurbishment works being secured and completed by next year. However, an existing lender required various provisions for these works which will likely have resulted in the original deadline being missed. As such, the borrower planned to fund and carry out the works themselves in a bid to keep the ball rolling.

As the investor provided a full schedule of these works, and we received confirmation from the local council that planning was in place, we were happy to move forward. The residential property being invested into also had conversion plans in play, with exceptionally high specifications. By examining the market, and working quickly with valuers, we felt confident there would be plenty of demand down the line.

We recognise there’s opportunity out there and help investors take advantage of it

No matter how experienced a client may be, there is always the chance unforeseen issues will arise. We always keep this in mind, ensuring we prioritise adaptability. Unlike high street lenders, we take complications in stride and try to find reasons to lend, as opposed to looking for excuses not to.

We look beyond a client’s background too. We know there’s plenty of demand for both commercial and residential property. As the world continues to open, businesses will be desperate to utilise any space they can for expansion plans. Additionally, workers are likely keen to find decent rental opportunities as they flock back to their city offices.

Where investors also spot these opportunities, we’re happy to help them reach their goals. We offer plenty of potential bridging products for commercial investors including commercial loans, developer exit bridging loans and permitted & light development loans. We can also provide loans and specialised mortgages for buy-to-let investors. To get to grips with of our options, please visit our product pages.

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